Yen Slips as BoJ Split, Current Account Deficit Favors USD/JPY

The Japanese Yen (JPY) continues to weaken against the US Dollar (USD), trading near 158.20 in Asian hours on Monday, according to TradingPedia.

This move reflects ongoing pressure on the JPY, which follows the release of the Bank of Japan's (BoJ) Summary of Opinions from its July 30-31 policy meeting.

The document reveals a clear split among policymakers, with some board members favoring keeping interest rates unchanged while assessing the delayed effects of earlier hikes, and others supporting maintaining or even speeding up tightening due to rising upside risks to inflation.

Fresh data added to pressure on the Yen as Japan reported its first current account deficit in 17 months in June, with a JPY 92.3 billion ($584.51 million) shortfall driven by sizable dividend payments to overseas investors.